Base metal stocks Articles

LIVE FUTURES REPORT 15/11: Comex copper price jumps up on positive macroeconomics

November 16, 2018 / Staff reporter

The Comex copper price moved higher on Thursday November 15 amid a broad-based increase due to a solid macroeconomic backdrop ahead of the end of year holiday season .The copper price for December settlement on the Comex division of the New York Mercantile Exchange jumped 4.20 to $2.7520 per lb."We continue to expect a strong rebound in copper prices by the end of 2018 principally because investor...Read More

METALS MORNING VIEW 15/11: Metals prices rebound after dollar pulls back

November 16, 2018 / Staff reporter

Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.7% on the morning of Thursday November 15. Zinc and nickel prices were up by the most with gains of 1.2% and 1.1% respectively, while copper was up by 0.8% at $6,149 per tonne. The others were up by between 0.2% for aluminium and 0.8% for lead. Volume has been below average with 4,583 lots trade...Read More

FOCUS: HPAL process 'not a quick solution' to battery-grade nickel tightness

November 16, 2018 / Staff reporter

Planned investment by China in high-pressure acid-leaching (HPAL) projects for nickel mining will materialize, but the projected production timeframes are very likely to be pushed back, and development costs are liable to increase, market participants have told Fastmarkets."[The Chinese are] looking to take advantage of the expected growth [in nickel demand for battery uses]. All of us are skeptic...Read More

Chinese cobalt metal price down, traditional brands lose market share

November 16, 2018 / Staff reporter

The cobalt metal price in China edged lower mid-week, pressured by the overall bearish sentiment toward the cobalt market's outlook following an industry event last week.Fastmarkets assessed the Chinese cobalt metal price at 410,000-430,000 yuan per tonne ($23.10-24.22) per lb, China VAT-free, on Wednesday November 14, down 4.5% from 430,000-450,000 yuan per tonne previously. "Following the event...Read More

EUROPE CRC: Domestic prices slip downward in slow market

November 16, 2018 / Staff reporter

Domestic prices for cold-rolled coil (CRC) have moved down slightly over the past week in Europe on slow trading, sources told Fastmarkets on Thursday November 15.Demand was slow because distributors have sufficient volumes in stock, according to market sources.In addition, the future price trend in the coil market was not clear to buyers so they preferred to hold back from purchasing.This week, d...Read More

CHINA HRC: Prices stable but market sources expect more downside

November 16, 2018 / Staff reporter

China's domestic hot-rolled coil prices were stable on Thursday November 15, but market participants are expecting an imminent drop on worsening demand.DomesticEastern China (Shanghai): 3,800-3,810 yuan ($546-548) per tonne, unchanged Northern China (Tianjin): 3,840-3,850 yuan per tonne, unchangedPrices held steady during the day, with trading activity in eastern China being described as better th...Read More

China AM: Ferrous futures prices shed upward momentum

November 16, 2018 / Staff reporter

China's ferrous futures, particularly the steel and coke contracts, tumbled during morning trading on Thursday November 15 on profit-taking after across-the-board gains a day earlier.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,874 ($557) yuan per tonne, down 53 yuan per tonneJanuary hot-rolled coil: 3,577 yuan per tonne, down 30 yuan per tonneDalian Commodit...Read More

US wire rod market expects mill price increases to stick

November 16, 2018 / Staff reporter

Wire rod industry sources in the United States expect recently announced mill price increases to be accepted, although the domestic market remains flat for now.Fastmarkets AMM's assessment for industrial quality low-carbon rod held at $39.25-41.25 per hundredweight ($785-825 per short ton) on Wednesday November 14, and imported wire rod was steady at $744-762 per short cfr port of Houston.Scr...Read More

TURKEY LONG STEEL: Domestic prices rise with weaker lira

November 16, 2018 / Staff reporter

Turkish long steel prices have continued to move in line with the lira-dollar exchange rate over the past week, sources said on Thursday November 15.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,250-3,400 ($593-621) per tonne ex-works, up from the last week's TRY3,200-3,335 per tonne including 18% VAT.The slight increase in...Read More

TURKEY LONG STEEL EXPORTS: Limited demand, weaker Chinese market drag prices down

November 16, 2018 / Staff reporter

Turkish long steel export prices have fallen over the past week amid limited demand and weakening steel prices in China, sources told Fastmarkets on Thursday November 15.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $505-510 per tonne fob, down from the $510-520 per tonne of last week.The decrease in the assessment followed news of a rebar cargo...Read More

DAILY SCRAP REPORT: Prices down on fresh transactions

November 16, 2018 / Staff reporter

Turkish steel producers resumed their deep-sea scrap purchasing on Thursday November 15, following a downturn in prices.A steel producer in northern Turkey booked a Baltic Sea cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $335 per tonne cfr.Another steel mill in the Iskenderun region booked a United States cargo, comprising 17,000 tonnes of HMS 1&2 (80:20) at $335 per tonne and 3,000...Read More

UK FERROUS SCRAP: November prices rolled over for second month

November 16, 2018 / Staff reporter

UK ferrous scrap prices for deliveries in November have been rolled over due to steady business and a small increase in European export prices to the key destination of Turkey, which meant there has been no support for changes to British domestic scrap prices, trade sources told Metal Bulletin on Wednesday November 14.UK suppliers had initially pushed for an increase of around 5-10 ($6-13) per to...Read More

IRON ORE DAILY: Prices weaken on first day of winter steelmaking restrictions in China

November 16, 2018 / Staff reporter

Iron ore prices weakened on Thursday November 15, marking the start of the winter heating season in north China and the accompanying steelmaking restrictions.MB 62% Fe Iron Ore Index: $74.93 per tonne cfr Qingdao, down $0.98 per tonne.MB 62% Fe Pilbara Blend Fines Index: $74.73 per tonne cfr Qingdao, down $0.98 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $77.97 per tonne cfr Qingdao, down $0.2...Read More

TURKEY STEEL BILLET: Import prices weaken with poor demand but local, export values steady

November 16, 2018 / Staff reporter

Turkish imported billet prices have weakened slightly over the past week on limited demand and a downturn in steel prices in China, while domestic and export billet prices were unchanged, sources said on Thursday November 15.Fastmarkets' weekly price assessment for billet imports into Turkey was $475-480 per tonne cfr, narrowing downward from last week's $475-485 per tonne cfr.The CIS export bille...Read More

CIS STEEL BILLET: Prices down on low sentiment, lack of support

November 16, 2018 / Staff reporter

CIS export billet prices softened slightly in the middle of this week with negative sentiment starting to spread due to the return of Chinese suppliers to export markets as well as rumors of possible tariffs on billet imports into Egypt in the near term."The case has been raised, but the officials responsible for a study have not made any comment yet," an Egyptian source told Fastmarkets on Thursd...Read More

EGYPT STEEL BILLET, REBAR: Billet prices weaken on soft demand, rebar still steady

November 16, 2018 / Staff reporter

Steel billet import prices in Egypt have fallen slightly over the past week amid poor demand, while domestic rebar prices were unchanged despite expectations of lower values, sources said on Thursday November 15.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $480-485 per tonne cfr on Thursday, narrowing downward from $480-490 per tonne cfr last week.Billet producers...Read More

European car sales down 7% in October on new emissions test

November 16, 2018 / Staff reporter

The number of new passenger car registrations in the EU dropped by 7.34% year-on-year in October 2018, the European Automotive Manufacturers Assn (ACEA) said on Thursday November 15.New car sales in Europe totaled 1,083,635 units in October, compared with 1,169,462 vehicles sold in the corresponding month of 2017.The decrease in October was "at a more moderate pace than in September," ACEA said. D...Read More

Swiss investment bank UBS Group applies for LME Category II membership

November 16, 2018 / Staff reporter

Swiss multinational investment bank, UBS Group, has applied for Category II membership on the London Metal Exchange, according to a note released by the exchange on Thursday November 15. The LME currently has 32 Category II members and the Swiss bank's London subsidiary, UBS Ltd, is already a member. Last month, Chinese broker Nanhua Futures similarly took steps...Read More

LIVE FUTURES REPORT 15/11: LME zinc rallies 3% in mixed LME close; nickel, lead lose gains

November 16, 2018 / Staff reporter

Zinc futures on the London Metal Exchange rallied 3% at the close on Thursday November 15, ending a weeklong downtrend and supported by a decade-low downdraft in total LME inventories.Across the entire base metals asset class, volumes traded on the exchange were moderately high, with the trading of zinc's 15,062 lots the most since Thursday August 16 and second on the day to copper's 16,465 lots."...Read More

Swiss investment bank UBS Group applies for LME Category II membership

November 16, 2018 / Staff reporter

Swiss multinational investment bank, UBS Group, has applied for Category II membership on the London Metal Exchange, according to a note released by the exchange on Thursday November 15. The LME currently has 32 Category II members and the Swiss bank's London subsidiary, UBS Ltd, is already a member. Last month, Chinese broker Nanhua Futures similarly took steps...Read More